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Oil hits $70, two-month high, like Europe, US reopen economies
May 19, 2021

Oil hits $70, two-month high, like Europe, US reopen economies

Oil rose on Tuesday to hit $70 a barrel for the first time since March, as expectations of demand recovery following reopenings of the European and US economies offset concern over spreading coronavirus cases in Asia. Brent crude was up 47 cents, or 0.7 percent, at $69.93 by 0825 GMT, and earlier topped $70 for the first time since March 15. US West Texas Intermediate (WTI) crude was up 45 cents, or 0.7 percent, at $66.72.

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